Need an appraisal for an FHA-backed mortgage? Call Appraisal Source LLCWe confidently state that Appraisal Source LLC is an FHA-certified appraisal firm in MI. This indicates that we are qualified and approved by the FHA to do reports for property loans insured by them. A certain amount of the ongoing training our staff at Appraisal Source LLC completes deals exclusively with comprehending the FHA's documentation and their rules and procedures. Be sure to contact Appraisal Source LLC if you need an appraisal done for an FHA-secured loan. An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower doesn't pay their loan. The FHA and their loan programs are created to assist low-to-moderate income purchasers help meet credit qualifications if they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Purchasers with lower income or less starting capital to put down on a financial transaction benefit the most from FHA loan programs. |